Trade war fear spooks markets: Sensex falls 300 points; metal stocks melt

Benchmark indices slump most in nearly a month; Metal stocks melt

The markets on Monday posted their worst single-day performance in nearly a month on worries of a global trade war after the US planned to impose stiff tariffs on steel and aluminium imports. 

Shares of metal companies led the decline. Political uncertainty in Italy also weighed on investors’ sentiment after exit polls showed Eurosceptic parties gaining support. The domestic equities posted a fourth straight session of loss despite the positivity following the Bharatiya Janta Party’s (BJP’s) strong showing in the Northeast state elections.

The benchmark BSE Sensex closed at 33,745, down 300 points, or 0.9 per cent, while the Nifty50